Rachel's Designs has 1,100 shares of 7 % , $50 par value cumulative preferred stock Issued at the beginning of 2019. All remaining shares are common stock. Due to cash flow difficultles, the company was not able to pay divldends in 2019 or 2020. The company plans to pay total dividends of $13,000 In 2021. How much of the $13,000 dlvidend will be pald to preferred stockholders and how much will be pald to common stockholders? Answer is complete but not entirely correct. Preferred dividends in arears for 2019 and 2020 7,700 3.850 Preferred dividends for 2021 2,750(x Remaining dividends to common stockholders Total dividends 14.300